Update on the Consumer transaction

Mon, Oct 03, 2016 08:00 CET

Oslo, 3 October 2016

Reference is made to the stock exchange announcements made on 18 July and 16 August 2016 regarding the share purchase agreement entered into on 17 July 2016 between Opera Software ASA ("Opera") and Golden Brick Capital Private Equity Fund I L.P. (the “Buyer”) on the sale and purchase of Opera's consumer business (the "Transaction").

The regulatory review by CFIUS is still ongoing. The parties agree that the required part of the reorganization that is to take place prior to closing was completed by September 30, hence pursuant to the amendment agreement No.1 to the share purchase agreement dated 15 August 2016 referred to in the stock exchange announcement dated 16 August 2016, the third prepayment of USD 275 million is due and payable to escrow. According to the agreed payment plan between the parties, the third prepayment will be paid in tranches during the month of October.

Once the full third prepayment has been made, the amount held in the escrow will be equal to the full enterprise value of the Transaction. Closing of the Transaction will take place once CFIUS has concluded its review.

Opera is moving the date for the 3Q16 reporting from 26 October 2016 to 10 November 2016.

​Petter Lade, Investor Relations

Tel: +47 2369 2400

About Opera Software ASAOpera enables more than 350 million internet consumers worldwide to connect with the content and services that matter most to them. Opera also helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 1 billion

About Us

Opera Software ASA is an industry leader in the development of Web browsers for the desktop, device and mobile markets. The Opera browser has received international recognition from end-users and the industry press for being faster, smaller and more standards-compliant than other browsers, and it has gathered a cult following on the net.